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BIOMAGNETIC TECHNOLOGIES INC. ANNOUNCES PUBLIC OFFERING OF COMMON STOCK

BIOMAGNETIC TECHNOLOGIES INC. ANNOUNCES PUBLIC OFFERING OF COMMON STOCK
 SAN DIEGO, March 27 /PRNewswire/ -- Biomagnetic Technologies Inc. (NASDAQ: BTIX) today announced the filing of a registration statement with the Securities and Exchange Commission regarding its public offering of 2 million shares of common stock. PaineWebber Inc. and Kidder, Peabody & Co. Inc. are co-managing the offering. All of the shares offered are being sold by the company.
 The company expects to use the net proceeds of the offering to support commercial product and clinical applications development, capital equipment expenditures and general corporate purposes.
 Biomagnetic Technologies Inc. has developed and currently manufactures and markets a medical diagnostic device, the Magnes(R) biomagnetometer system, which noninvasively detects and images bioelectrical activity associated with the functional operation of the brain and heart.
 Copies of the prospectus can be obtained from the office of PaineWebber Inc., 1285 Avenue of the Americas, New York, NY 10019, or Kidder, Peabody & Co. Inc., 10 Hanover Square, New York, NY 10005.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 3/27/92
 /CONTACT: Stephen O. James or William L. Stephan of Biomagnetic Technologies, 619-453-6300/
 (BTIX) CO: Biomagnetic Technologies Inc. ST: California IN: MTC SU: OFR


DM-JL -- SD001 -- 2242 03/27/92 08:31 EST
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Publication:PR Newswire
Date:Mar 27, 1992
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